MR ADRIAN CONRAD ELSWORTH

Disqualified from

2020-01-07

Date of birth on record

July 1963

Between 22 January 2018 and 24 January 2018 Adrian Conrad Elsworth (“Mr Elsworth”) caused Elsworth Electrical Contractors Ltd to enter into transactions totalling £42,870 at a time when he knew, or ought to have known that it was insolvent which was to the detriment of creditors and to the personal benefit of himself, in that:-<br>The company solicitor stated in his email to him dated 7 February 2018 that the company ceased trading on 2 February 2018, it was insolvent as it was unable to pay its debts as and when due and was insolvent on a balance sheet basis.<br>Bank statements show that on 8 December 2017 3 direct debits were returned unpaid.<br>Information received from HMRC showed CIS/PAYE overdue from July 2017. On 29 November 2017 HMRC issued an insolvency warning letter and cancelled the time to pay agreement. The liability was £51,817. On 14 December 2017 he spoke to HMRC and stated he was unable to pay the outstanding amount.<br>A Winding up petition was presented to the Truro County Court on 12 February 2018. The Winding up Order was made on 6 April 2018.<br>On 22 January 2018 3 payments totalling £28,948 were paid to 3 personal credit cards<br>On 24 January 2018 a further £13,922 was paid to another personal credit card.<br>He stated “The company accounts show that at Year End 31 March 2017 the company owed him £85,773. Majority of this was repaid to him. Over the course of the last three years he had been funding the company through various personal credit cards…The interest repayments were becoming unmanageable. All of these cards were repaid using the director's loan account.”